Saturday, June 1, 2013

F. A. Hayek

"Any attempt to control prices or quantities of particular commodities deprives competition of its power of bringing about an effective coordination of individual efforts, because price changes then cease to register all the relevant changes in circumstances and no longer provide a reliable guide for the individual's actions."

F. A. Hayek, The Road To Serfdom.

I like this quote, as it tells the story of why free markets provide a superior means of keeping prices low and enterprises most  effective.  This is the true economy, but it can only happen in a stateless society.  The state distorts the free market to favor the powerful over the rest of us through endorsement of collusive contracts and public policy, creating monopolistic dynamics that impoverish the masses while blessing the monopolist and the state representative.

Gene Chapman,
Tolstoyan-Gandhian Libertarian for Texas Governor
(Endorsed by Dr. Noam Chomsky)